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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> welcome back to "hardball." that was speaker boehner's downbeat assessment of fiscal negotiations. he went on putting blame squarely on the president. let's listen. >> this president has adopted of a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. it's time for the president, if he's serious, to come back to us with a counteroffer. >> shortly after house ni mort leader nancy pelosi put the plame back on republicans. let's listen. >> the only obstacle standing in the way of middle income tax relief are the republicans unwillingness to ask the top 2% to pay their fair share. this is a moment of truth. the clock is ticking. christmas is coming, the goose is getting fat, but in many homes across america it's very -- a very, very lean time. >> and today's jobs report showing 146,000 jobs added in november and unemployment dipping to 7.7% may give the president some leverage in negotiations with boehner. but while the president
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> welcome back to "hardball." that was speaker boehner's downbeat assessment of fiscal negotiations. he went on putting blame squarely on the president. let's listen. >> this president has adopted of a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. it's time for the president, if he's serious, to come back to...
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so you have the fiscal cliff, and the business confidence is at an all-time low. consumer confidence is at a 4 1/2 year high. germany's stock market is up 25% this year, both in dollars and euros. the u.s. dollar and the euro are about the same. basically, you want to watch the ten-year treasury interest rate. it's been going down this week. you always show that at the end of the week. gold has basically been very quiet. you're waiting for the dough here. you're looking for the market to give you a sense of where the economy is going. >> we're waiting for green lights. do you feel when all is said and done, no matter how much we talk about, you know, how the end of the world would arrive if we went over the fiscal cliff, people in the market basically his surely they can't be that done. they're assuming it's going to get done. >> i think the markets are saying -- it's balanced 50/50. my personal opinion is it's a higher chance it won't happen. just as bill clinton managed to pin the blame for the government shutdown on newt gingrich and put the republicans in retr
so you have the fiscal cliff, and the business confidence is at an all-time low. consumer confidence is at a 4 1/2 year high. germany's stock market is up 25% this year, both in dollars and euros. the u.s. dollar and the euro are about the same. basically, you want to watch the ten-year treasury interest rate. it's been going down this week. you always show that at the end of the week. gold has basically been very quiet. you're waiting for the dough here. you're looking for the market to give...
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paralyzed by the fiscal cliff. when will deals start to flow? that is coming up next in a fox business exclusive. ♪ says that clear answer is gold hi, i'm phil mickelson. i've been fortunate to win on golf's biggest stages. but whenoint pain and stiffness from psoriat arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffns, and stop joint damage. because enbrel, etanercept, suppresses your immune system, it may lower your ability to fight infections. sious, sometimes fatal events including infections, tuberculosis, lymphoma, other cancers, and nervous system and blood disorders have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region where certain fungal infections e common. don't start enbrel if you ve an infection like the flu. tell your doctor if you're prone to infections, haveuts or sores, have had hepatitis b, have been
paralyzed by the fiscal cliff. when will deals start to flow? that is coming up next in a fox business exclusive. ♪ says that clear answer is gold hi, i'm phil mickelson. i've been fortunate to win on golf's biggest stages. but whenoint pain and stiffness from psoriat arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffns, and stop joint...
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congress hearing from all sides on the fiscal cliff and heading up a coalition of business and economic leaders in the fix the debt campaign, where do you sense the players are right now in terms of whether they'll go interest a small deal, band-aid approach or grand bargain. >> the good news is while it's a nail biter, that's for sure, we all wish we could solve some of these problems without going to the brink like we do in politics, i think they're going to get this resolved and be able to put in place a plan not just to avert the fiscal cliff, but importantly to really tackle the deficit and debt problems in this country. i am concerned that deal won't be big enough. is it going to be small or medium or big. we need a plan big enough to fix the deficit problems and make sure the debt is no longer growing faster than the economy. we're not going to be able to balance the budget in the near future because the fiscal hole is so big. you want to make sure the debt is not growing faster than the economy. that's going to take $4 trillion in savings. you need all parts on the table and con
congress hearing from all sides on the fiscal cliff and heading up a coalition of business and economic leaders in the fix the debt campaign, where do you sense the players are right now in terms of whether they'll go interest a small deal, band-aid approach or grand bargain. >> the good news is while it's a nail biter, that's for sure, we all wish we could solve some of these problems without going to the brink like we do in politics, i think they're going to get this resolved and be...
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today's discussion on the fiscal cliff clearly exceeds that far. we are honored to have such a thoughtful panel. senator mark warner, senator bob corker, congressman chris van hollen, governor tim pawlenty who is currently president and ceo of the financial services roundtable. moderate in our discussion today is albert hunt. we always love having l over here. he really put limburg on a map in d.c. and yesterday was his birthday so happy birthday. [applause] i'm going to turn things over to tom davis who is the man who really needs no introduction. he has been a great friend over the years. i would be remiss if i didn't give his full official title at deloitte. he is the director of federal government affairs. please join me in welcoming congressman tom davis. [applause] >> thank you and most importantly i left congress undefeated and unindicted so i am very happy about that. on behalf of deloitte i want to thank our all-star panel, senator corker, governor pawlenty, congressman van hollen in senator warner for participating in our all-star moderat
today's discussion on the fiscal cliff clearly exceeds that far. we are honored to have such a thoughtful panel. senator mark warner, senator bob corker, congressman chris van hollen, governor tim pawlenty who is currently president and ceo of the financial services roundtable. moderate in our discussion today is albert hunt. we always love having l over here. he really put limburg on a map in d.c. and yesterday was his birthday so happy birthday. [applause] i'm going to turn things over to tom...
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you are concerned about this fiscal cliff. what impact would it have on your business? >> it could dampen demand for product. we worry about the fiscal cliff but at the same time people are more worried about our quality in the u.s. and that helps demand for our product. jeff: this company went public in 2010, stock price $13, recently got up to 40. price targets are above that on it. take a look at that. cheryl: charles payne was right. jeff flock, thank you very much. ibm employees saying the big blue after the company says it is not paying 401(k) matches until the end of the year. dennis: holy jalopy, batman. these are live pictures of the backmobile from the 1960s tv series. we will speak to the designer and the auctioneer who will put this baby on the block. how much will go for? [ male announcer ] where do you turn for legal matters? at lelzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to
you are concerned about this fiscal cliff. what impact would it have on your business? >> it could dampen demand for product. we worry about the fiscal cliff but at the same time people are more worried about our quality in the u.s. and that helps demand for our product. jeff: this company went public in 2010, stock price $13, recently got up to 40. price targets are above that on it. take a look at that. cheryl: charles payne was right. jeff flock, thank you very much. ibm employees...
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. >> we've all heard about this fiscal cliff. that's the convergence of higher tax rates and, of course, all the spending. >> both parties, democrats and the republicans need to come together. >> the our three branches of government, and congress, and the president are equal. and pretty much neither one has the right position for the country. >> i know that america is going to be a great country again. and that will fix the problems we have at home, and bring together the two parties that are dividing the country, and fighting for different things. i know that this is going to happen. >> we're only going to get out of this together. we're not going to get out of it as a democrat. we're not going to get out of it as republican. we're going to get out of it as an american. >> thank you, ed. thank you, joan. we're going to get on with a program right now. let the introduce the moderator of that program, ron brownstein. on its editorial director of the "national journal," which means he oversees all the little coverage coming out of
. >> we've all heard about this fiscal cliff. that's the convergence of higher tax rates and, of course, all the spending. >> both parties, democrats and the republicans need to come together. >> the our three branches of government, and congress, and the president are equal. and pretty much neither one has the right position for the country. >> i know that america is going to be a great country again. and that will fix the problems we have at home, and bring together...
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john boehner makes remarks on the fiscal cliff. we will show you that when the happens. by now, a little bit more about the fiscal cliff. >> we turn our attention this morning about unemployment benefits and how insurance could back -- how insurance could be impacted. thank you for coming in. we want to start the discussion. when we're talking about unemployment insurance, what specific programs are we talking about here? >> unemployment insurance is the combination of federal and state programs. it usually lasts up to six weeks. it can be extended up to 93 weeks, depending on which they were in. it is this extension that we're really talking about as part of the fiscal cliff. >> that is what might be cut. that is what automatically expires. we know it cost $30 billion to continue additional unemployment benefits. of the deal i want to make, the benefits should continue. firm stand. we have seen in the past obama host: what specific benefits do guest: usually some kind of a cash benefit or they may help the search for a job. it is usually about $300 a week. it can vary f
john boehner makes remarks on the fiscal cliff. we will show you that when the happens. by now, a little bit more about the fiscal cliff. >> we turn our attention this morning about unemployment benefits and how insurance could back -- how insurance could be impacted. thank you for coming in. we want to start the discussion. when we're talking about unemployment insurance, what specific programs are we talking about here? >> unemployment insurance is the combination of federal and...
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and that's very consistent with the fiscal cliff weighing on business hiring and investment. machinery equipment in manufacturing employment was down. same with construction of nonresidential buildings. the strong retail numbers which have been strong for a couple months not just in november suggest the consumer has not been hit by the cliff. one other point about the hurricane impact, we don't know what the bureau of labor statistics considers substantial. according to ma ing ting t ingi 300,000 said they weren't working because of the weather and that's six times the normal level. >> to underscore the statistical significance, 86,000 was in the adp report affected by the hurricane. that's not within the statistical range with what they consider significant. it did have an impact and it may or may not have shown up. i think greg brings up a good point about the fiscal cliff and the break between consumer and corporate activity is very important. we saw the decline in investment in the third quarter very much related to fiscal cliff issues and concerns and delays on hiring an
and that's very consistent with the fiscal cliff weighing on business hiring and investment. machinery equipment in manufacturing employment was down. same with construction of nonresidential buildings. the strong retail numbers which have been strong for a couple months not just in november suggest the consumer has not been hit by the cliff. one other point about the hurricane impact, we don't know what the bureau of labor statistics considers substantial. according to ma ing ting t ingi...
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fiscal cliff is keeping employers from bringing on new workers. they don't know what future tax rates will be and if they can afford more hiring. but on capitol hill democrats are trying to highlight the positives. >> we had a little problem because of what happened with hurricane sandy but we'll still have about 100,000 new jobs. >> reporter: the report comes out in just 15 minutes. we'll show you who is hiring and who is not. reporting live from washington, d.c. alison burns ktvu channel 2 news. >>> time now 5:15. fundraising records were shattered by both president obama and mitt romney during their campaigns. they raised more than $2 billion. campaign finance records show the president raised $1.1 billion for his reelection effort. his republican challenger mitt romney was close behind. $1.1billion. now the record setting amounts don't include the hundreds of millions sent by super packs on ads. >>> it was called the zombie apocalypse. why this simulation at a homeland security area is being called a waste of taxpayer money. >>> mountain view
fiscal cliff is keeping employers from bringing on new workers. they don't know what future tax rates will be and if they can afford more hiring. but on capitol hill democrats are trying to highlight the positives. >> we had a little problem because of what happened with hurricane sandy but we'll still have about 100,000 new jobs. >> reporter: the report comes out in just 15 minutes. we'll show you who is hiring and who is not. reporting live from washington, d.c. alison burns ktvu...
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is it going to be easier to get bipartisan view on immigration or on the fiscal cliff? they're both very important in terms of getting business moving. >> i think there's more after consensus on immigration than on the fiscal cliff. >> let's talk about taxing overseas profits only where they are earned. explain that. >> well, that's really something where the united states is an outlier and the argument here is bring them back where they're earned. at the moment the problem is american companies have lots of money sitting overseas because they don't want to bring it back and be taxed in the united states. so that is something that puts as one of his eight points because it is holding back investments by american companies. >> all right. the new issue of "the economist" is "the world in 2013." daniel franklin. thank you so much for being on the show this morning. stay with us. much more on "morning joe." ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever be
is it going to be easier to get bipartisan view on immigration or on the fiscal cliff? they're both very important in terms of getting business moving. >> i think there's more after consensus on immigration than on the fiscal cliff. >> let's talk about taxing overseas profits only where they are earned. explain that. >> well, that's really something where the united states is an outlier and the argument here is bring them back where they're earned. at the moment the problem is...
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between the fiscal cliff and senate come when my has seen it up to 200,000 jobs added. instead we're looking at something more like 100,000 we think. not very good. >> tara mergener, thank you. you can apply for official federal assistance immediately. the deadline is this month for some workers. for more affirmation, call 288- 9050. >> 33 degrees at the airport. after some criticism, could apple be in sourcing its next big project? >> will you be putting fewer gifts under the christmas tree this year? >> a day that still lives in infamy. the anniversary of the attack on pearl harbor. >> scattered showers today. >> more and more motorists >> more and more motorists getting out on the area roads ♪ oh, what fun it is to ride... ♪ get in the holiday spirit with dunkin's peppermint mocha, new white chocolate, or gingerbread flavors today. america runs on dunkin'. >> we take a look outside. clatter skies. 42 degrees downtown. chillier when you get away from the airport. we have some rain fall approaching from the west. i have circled the city. shower activity is moving i
between the fiscal cliff and senate come when my has seen it up to 200,000 jobs added. instead we're looking at something more like 100,000 we think. not very good. >> tara mergener, thank you. you can apply for official federal assistance immediately. the deadline is this month for some workers. for more affirmation, call 288- 9050. >> 33 degrees at the airport. after some criticism, could apple be in sourcing its next big project? >> will you be putting fewer gifts under the...
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fiscal cliff week for the most part, a lot of other -- that and a lot of other news to talk about today. we have the big job numbers coming up today as well for the month of november. it won't be quiet as critical as the job numbers were. remember that? that was right before the election. but still, it's very important. we'll be on top of that and all of the other issues for you and with you and hearing from you at 866-55-press. >> that's our toll-free number 866-557-7377. follow us on twitter. join us on twitter. more and more people do. at the whitehouse, so many of the reporters were saying how much they love following us on twitter. you should, too, at bp show @bp show @bpshow and facebook/billpressshow. team press here for the fifth day in a row all together. this is a new record action i think. here we are five days. nobody took a day off. peter ogburn and dan henning. >> happy friday. >> and cyprian bowlding wearing god knows what hat this morning. our videographer in chief. >> the washington fuel team he is representing with his hat. >> redskins hat. >> they changed their unifor
fiscal cliff week for the most part, a lot of other -- that and a lot of other news to talk about today. we have the big job numbers coming up today as well for the month of november. it won't be quiet as critical as the job numbers were. remember that? that was right before the election. but still, it's very important. we'll be on top of that and all of the other issues for you and with you and hearing from you at 866-55-press. >> that's our toll-free number 866-557-7377. follow us on...
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cliff uncertainty could lead to an increase in mergers and acquisitions. they look to complete transactions by year end and i made a fool of myself the last hour trying to go all the way through. not doing it anymore. >> we do that all the time here. that's what we have three hours for. >> it was dumb. >> the name fiscal cliff where did that actually come from? >> i don't know. >> bernanke maybe. >> maybe. >> really? >> maybe bernanke. >> that thing really stuck. >> that's a good question. that's good trivia. i'll goog it. >> we've said it's not really. it doesn't happen really. it's more of a ski slope it's not a black diamond slope. it's more advanthan advanced. >> a double blue. >> but not without a lot of moguls. >> dan gilbert is the own of the cleveland cavaliers and the founder of quicken loans and you're the perfect person to have here because you have your finger on so many different things happening in detroit and around the country. let's start with the housing industry this morning because people have been trying to figure out if the resurgence
cliff uncertainty could lead to an increase in mergers and acquisitions. they look to complete transactions by year end and i made a fool of myself the last hour trying to go all the way through. not doing it anymore. >> we do that all the time here. that's what we have three hours for. >> it was dumb. >> the name fiscal cliff where did that actually come from? >> i don't know. >> bernanke maybe. >> maybe. >> really? >> maybe bernanke. >>...
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the impact that the fiscal cliff could have on the economy will go up across the board. >> as we get closer and closer to the end of the year i think the uneasiness will continue and the worry we might not see a resolution is going to effect our market. >> it has an impact or hiring as well. physical we go over the cliff the long-term benefits will in fact expire at the end of the year. as the president visited a family in virginia to talk about tax hikes on the wealthy there were few talks on if is clal cliff talks. >> i am not going to sign any package that somehow prevents the top rates from going up for folks at the top two percent. >> this isn't about getting a handle on debt for him it's about spending more than he already has. >> as far as the unp employment numbers are concerned today there is little doubt that super storm sandy had an impact on those. the expectation is that it dissipated a great degree. back to you guys. >>> doug luzader in washington, thank you. >> it is time to look at who is talking. we are hearing from bill o'reilly today. he is talking about the curren
the impact that the fiscal cliff could have on the economy will go up across the board. >> as we get closer and closer to the end of the year i think the uneasiness will continue and the worry we might not see a resolution is going to effect our market. >> it has an impact or hiring as well. physical we go over the cliff the long-term benefits will in fact expire at the end of the year. as the president visited a family in virginia to talk about tax hikes on the wealthy there were...
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a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington, all because of the need to sock it to the 2%, not the 1.5% and the over $400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to my college chum grover norquist. i thought bill gates and chief justice roberts were powerful. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that would rather create a recession, a mandated economic collapse, let's create a bear market versus rising above. and guess what? these enemies of wealth and job creation may get their way and win. yes, to borrow a phrase from my own rant last time we were on the brink of a washington-inspired financial disaster, they know nothing. shawn in illinois. shawn? >> caller: hello, jim. >> what's up, chief? >> caller: booyah from chicago land. >> done. speak to me. >> caller: i've been watching blizzard for some time now, and i just heard a report that thei
a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington, all because of the need to sock it to the 2%, not the 1.5% and the over $400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to my college chum grover norquist. i thought bill gates and chief justice roberts were powerful. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that...
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recently he published a report assessing the challenges of approaching the fiscal cliff and the most effective way to achieve long-term, fiscal stability. he received his phd from the university of pennsylvania. that will be a recurring theme in these introductions. dr. zandi, thank you for being here. dr. hassett is the director and senior fellow at the american enterprise institute. he holds a phd from the university of pennsylvania. his research includes the u.s. economy, tax policy, and the stock market. he is previously a senior economist at the board of governors at the federal reserve system. he went to that graduate school of business at columbia university. he has worked for both the george w. bush and clinton administrations. both of you went to the same university. i'm sure you can agree on everything today. dr. zandi first. >> thank you for the opportunity. it is an honor to be here with kevin, a good friend of mine. let me say that these are my own personal views. lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling
recently he published a report assessing the challenges of approaching the fiscal cliff and the most effective way to achieve long-term, fiscal stability. he received his phd from the university of pennsylvania. that will be a recurring theme in these introductions. dr. zandi, thank you for being here. dr. hassett is the director and senior fellow at the american enterprise institute. he holds a phd from the university of pennsylvania. his research includes the u.s. economy, tax policy, and the...
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president barack obama says approach in the fiscal cliff will add to holiday stress for american families. >> the closer it gets to the brink, the more stressed they will be. businesses are making decisions right now about investment and hiring. they don't have confidence that we can get this thing done, they will start pulling back and we could have a lousy time in our haqqani for the next several months. >> the president made the remarks while visiting with the virginia family to talk about the budget crisis. >> for now, the stalled negotiations cannot seem to be affecting local holiday shopping and events in and around baltimore. >> harbour east is one of the air is a special -- with special events going on throughout the city. winter wonderland promotes local artists and shoppers can get free parking. it is about promoting business and luring in those customers. [cheers] >> it is that time of year, holiday events, drinks, good food, and shopping. >> i think things are getting better for us. customers are shopping more, it seems. >> the festivities going on in the city and people getti
president barack obama says approach in the fiscal cliff will add to holiday stress for american families. >> the closer it gets to the brink, the more stressed they will be. businesses are making decisions right now about investment and hiring. they don't have confidence that we can get this thing done, they will start pulling back and we could have a lousy time in our haqqani for the next several months. >> the president made the remarks while visiting with the virginia family to...
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host: we have been focusing on different parts of the fiscal cliff discussion. today we're looking at tax extenders for businesses and individuals. joining us is sam goldfarb, a tax writer for cq roll call. what our tax extenders? guest: they are temporary tax breaks. some people are concerned the entire tax code is turning into a big tax extender. they are considered to be a small provision and targeted at specific types of businesses. host: why are they temporary? guest: a lot of people say they should be made permanent or they should be eliminated altogether. it is easier to pass when they are temporary. they keep on being extended and extended. host: we will look at some of these. these are some of the tax extenders and the cost of continuing the tax breaks through 2013. host: some of those are really specific. guest: that is the idea. they have become a case study in what some people think is wrong with the tax code. if there are loopholes that can be claimed to love god and their because of a lobbyist lobbied hard to get there, it is these tax breaks that
host: we have been focusing on different parts of the fiscal cliff discussion. today we're looking at tax extenders for businesses and individuals. joining us is sam goldfarb, a tax writer for cq roll call. what our tax extenders? guest: they are temporary tax breaks. some people are concerned the entire tax code is turning into a big tax extender. they are considered to be a small provision and targeted at specific types of businesses. host: why are they temporary? guest: a lot of people say...
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from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sand
from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's...
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host: we have been focusing on different parts of the fiscal cliff discussion. today we're looking at tax extenders for businesses and individuals. joining us is sam goldfarb, a tax writer for cq roll call. what our tax extenders? guest: they are temporary tax breaks. some people are concerned the entire tax code is turning into a big tax extender. they are considered to be a small provision and targeted at specific types of businesses. host: why are they temporary? guest: a lot of people say they should be made permanent or they should be eliminated altogether. it is easier to pass when they are temporary. they keep on being extended and extended. host: we will look at some of these. these are some of the tax extenders and the cost of continuing the tax breaks through 2013. host: some of those are really specific. guest: that is the idea. they have become a case study in what some people think is wrong with the tax code. if there are loopholes that can be claimed to love god and their -- have gotten there because of a lobbyist lobbied hard to get there, it is t
host: we have been focusing on different parts of the fiscal cliff discussion. today we're looking at tax extenders for businesses and individuals. joining us is sam goldfarb, a tax writer for cq roll call. what our tax extenders? guest: they are temporary tax breaks. some people are concerned the entire tax code is turning into a big tax extender. they are considered to be a small provision and targeted at specific types of businesses. host: why are they temporary? guest: a lot of people say...
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whatever is happening this week with the fiscal cliff, it's just one little blip in a multidecade goal to reshape how america looks politically, business. they are very philosophically focused and very, very disciplined, and very, very wealthy. >> the piece is to mark his 77th birthday, so he has been at it for some time. here is another interesting passage from your article. charles' many critics owe on the left, including the president of the united states, accuse him of accumulating too much power and using it to promote his own economic interests through a network of secretive organizations they call the kochtopus. what is it and how far does it stretch? >> on the left the idea is that they are funding many if not most, certainly many, of the leading right wing think tanks. if you think about it, this is how they play the game. they're talking about long-term investments. a lot of people are focused on how much money was spent by super pacs and donors in this election cycle. what the kochs have always done is said we're going to look at this and say how can we lay the seeds? they k
whatever is happening this week with the fiscal cliff, it's just one little blip in a multidecade goal to reshape how america looks politically, business. they are very philosophically focused and very, very disciplined, and very, very wealthy. >> the piece is to mark his 77th birthday, so he has been at it for some time. here is another interesting passage from your article. charles' many critics owe on the left, including the president of the united states, accuse him of accumulating...
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cliff, how many businesses in this room will reduce capital investment? remember, i just said -- and it's very demonstrable that capital investment is what drives gdp growth rate and job creation. that tells a story right there. if we go across the fiscal cliff, we will have an economic contraction or slow down at best. >> how are things looking right now ahead of the holidays? i'm sure your company is real busy, fedexing gifts. what are your expectations for this holiday season? >> well, you know, the 300,000 wonderful teammates of fedex are working very hard. we publicly forecast a couple weeks ago that on the 10th we would move 19 million shipments through our network. that's up about 11% year over year. e-commerce is causing a significant amount of growth. retail sales are going to be up some place in the 3.5% and 4%. we think absent going over the cliff and absent tax reform, u.s. gdp around 2% next year. worldwide, about 2.5%. >> real quick, we have to ask you your plans. you had said at some point you would leave the ceo role as soon as 2013. is th
cliff, how many businesses in this room will reduce capital investment? remember, i just said -- and it's very demonstrable that capital investment is what drives gdp growth rate and job creation. that tells a story right there. if we go across the fiscal cliff, we will have an economic contraction or slow down at best. >> how are things looking right now ahead of the holidays? i'm sure your company is real busy, fedexing gifts. what are your expectations for this holiday season? >>...
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i am sure people are anxious about the fiscal cliff. should they be as worried? are we overplaying it in the media? >> time will tell. i will say that mainstream does not seem to be as focus on this as wall street or businesses are. the answer to how big an impact is somewhere in between the perceived whistling past the graveyard the consumers are doing and the obsession we all have with wall street and probably is a reality. but i think what tends to boost consumers''s psyche, their incomes would be things like gains in housing, falling castling prices, the recovery starting post hurricanes and the. those come in to play and we have both stocks and houses, the biggest the components of net worth generally moving in the right direction. that, i think, is causing the confidence among consumers and we, wall street, the media, have been -- tired of talking about -- [talking over each other] liz: great job. thank you. one of the last things you said was one of the most important. the two things that are the biggest network for people, stocks and housing, the home tha
i am sure people are anxious about the fiscal cliff. should they be as worried? are we overplaying it in the media? >> time will tell. i will say that mainstream does not seem to be as focus on this as wall street or businesses are. the answer to how big an impact is somewhere in between the perceived whistling past the graveyard the consumers are doing and the obsession we all have with wall street and probably is a reality. but i think what tends to boost consumers''s psyche, their...
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. >>> americans could be singing the blues if congress doesn't act to avert the fiscal cliff. the longer congress waits the more complicated for businesses to figure out how much to pay workers early next year. the confusion could cost employers money, especially small businesses which use payroll software which takes time away from running their business. starbucks ceo howard schultz agrees. >> this single issue has a seismic affect on the rest of the world that we have never been as connected in the domino effect of a bad outcome here will have significant negative consequences domestically and around the world. >> negative consequences, seismic or not, none is stopping starbucks plans for 1,500 more cafes across america next year. and just as many around the world. but we get his point. >>> speaking of the fiscal cliff, we know what the parameters of a deal in congress will look like, right? on taxes, republicans give in to raise taxes on the wealthiest 2% and democrats will agree to rein in tax breaks, right? democrats are fighting hard to preserve the tax deduction for st
. >>> americans could be singing the blues if congress doesn't act to avert the fiscal cliff. the longer congress waits the more complicated for businesses to figure out how much to pay workers early next year. the confusion could cost employers money, especially small businesses which use payroll software which takes time away from running their business. starbucks ceo howard schultz agrees. >> this single issue has a seismic affect on the rest of the world that we have never...
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make your mark with ink from chase. >>> 25 days and counting until america dives off that fiscal cliff. in just a few minutes, the president makes his point of the day by visiting a middle class family to talk about tax cuts. >>> and on the hill, some members of congress left d.c. yesterday. we showed you the footage. they're on a long weekend. but key players are still there trying to hammer out a deal. eamon javers is on capitol hill with the latest on the negotiations for us. hi, eamon. >> hi, sue. just within the past couple of minutes here we've had a very high-stakes scuffle on the senate floor over the president's proposal to have unilateral authority to raise the nation's debt ceiling all on his own for the most part. mitch mcconnell, the republican leader, offered up the opportunity for the senate to have a vote on that. democrats said they would love to take him up on that. they say they have the votes to pass it at a 50-vote threshold. just within the past couple of seconds, mcconnell has said, no, in fact what he wants to see is a 60-vote threshold for that. it looks like t
make your mark with ink from chase. >>> 25 days and counting until america dives off that fiscal cliff. in just a few minutes, the president makes his point of the day by visiting a middle class family to talk about tax cuts. >>> and on the hill, some members of congress left d.c. yesterday. we showed you the footage. they're on a long weekend. but key players are still there trying to hammer out a deal. eamon javers is on capitol hill with the latest on the negotiations for...
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is the stock market pricing in a tumble over the fiscal cliff? losh abet senior economist and market strategist milton miss rought at this breaks it down with tracy and ash. stick around >> gold bars i suppose. >> i would be buying gold bars and real estate. >> under the mattress. >> let it all go. ashley: nothing wrong with those. not at all. >> and on that note --, take it away. ashley: thank you, ladies. as lori just said, drifting along. market up by 11 points. good afternoon, i'm ashley webster. tracy: i'm tracy byrnes. political theater over the fiscal cliff. how a senate battle over the presidential power around the debt ceiling could shape the cliff talks going forward. ashley: apple shares up today, but still down more than 20% from the all-time high less than three months ago. now is the time to buy. is there more downside ahead? all the people wondering about apple. we'll speak to one leading analyst is here soon. tracy: i do my part this holiday season for apple. somebody has to buy the stock. goinn over the fiscal cliff means big bud
is the stock market pricing in a tumble over the fiscal cliff? losh abet senior economist and market strategist milton miss rought at this breaks it down with tracy and ash. stick around >> gold bars i suppose. >> i would be buying gold bars and real estate. >> under the mattress. >> let it all go. ashley: nothing wrong with those. not at all. >> and on that note --, take it away. ashley: thank you, ladies. as lori just said, drifting along. market up by 11 points....
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. >> tom, business investment was down 2.2% in the latest gdp report, and a lot of that is fiscal cliff tied to that. when do you see business investments starting to pick up, because we all kind of know the housing story, we know consumers kind of hung in. i think actually the next big upside could be a business investment, if it comes back but when does that come, in your opinion? >> it's a tricky question because there's two dynamics when we talk about business investment, it's capital spending which has a huge tech component, but it's also construction activity because it's building out the commercial infrastructure, health care, roads, et cetera, that associate with capital spending itself. companies can be cautious and we know there are multi, multidecade levels of cautiousness given their cash and where spending is and at some point pure replacement has to take over. that's really what sparked the recovery in housing, we were scrapping so many homes and you had organic growth. i think we're getting to the break point soon. >> tom, let me ask you about a couple of your picks befor
. >> tom, business investment was down 2.2% in the latest gdp report, and a lot of that is fiscal cliff tied to that. when do you see business investments starting to pick up, because we all kind of know the housing story, we know consumers kind of hung in. i think actually the next big upside could be a business investment, if it comes back but when does that come, in your opinion? >> it's a tricky question because there's two dynamics when we talk about business investment, it's...
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the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of fracturing that we're doing, the fact that housing has been doing tremendously well, and interest rates remain very low with prices, so there's some sense that there's a bit of a renaissance on the horizon, and if the government doesn't mess that up too much, 2013 could end up being as good as 2012 if not a little better. i don't know if you completely disagree with that, peter, but i think there's enough good going on that it could offset the bad. >> to you think it could go up to 10% unemployment. do you agree with peter on that? >> i don't know. i don't know if it will go go up
the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of...
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she wrote concerned about tax increases and this fiscal cliff. she said, "the middle class is the heart and soul of this country. what keeps it going and growing? what else can we be hit with? i know i cannot take anything more on financially." so my first call today, madam president, is let's give deborah and families like hers in delaware and around the country the serntle before we end this -- the certainty before we end this calendar year of knowing their taxes will not go up in 26 days when the calendar turns to 201. one way to do that is for the moushouse to take up the legisln that this body has already considered in a bipartisan way that would extend the tax cuts for 98% of families and 97% of small businesses while also achieving nearly d is trillion of debt and deficit reduction. this bill extends tax cuts that would otherwise expire for all americans who earn income and for all small businesses, but just on the first $250,000. tax ratetax rates on income abot would revert to tax rates during the clinton administration. this one step wo
she wrote concerned about tax increases and this fiscal cliff. she said, "the middle class is the heart and soul of this country. what keeps it going and growing? what else can we be hit with? i know i cannot take anything more on financially." so my first call today, madam president, is let's give deborah and families like hers in delaware and around the country the serntle before we end this -- the certainty before we end this calendar year of knowing their taxes will not go up in...
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cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going to suburban virginia to speak to a middle-class family and he will press congress to protect those making less than $250,000 a year from tax increases by raising rates on those making more. in washington it is the same fight. >> president obama, democrats in congress have ever been ambiguous, provide economic security for 90% of american families and 97% of small businesses asking the wealthiest 2% to contribute just a little more to stop this runaway debt. >> what the president is really interested in as we learned just yesterday he is getting as much taxpayer money as he can first by raising taxes on
cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going...
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while i hope that the negotiations to avert the fiscal cliff are successful, in my view we should not wait for a grand bargain in order to finish work on this important tax extender legislation. tax extenders are different from the other fiscal cliff issues for three basic reasons, and let me describe those reasons. first tax extenders are much less contentious than the other end of year problems that we -- that need to be resolved. the tax extender bill on the senate calendar has strong bipartisan support. in august, the finance committee approved it by a large margin. we have support from six republicans, including the ranking member, senator hatch. all 13 democrats supported it. i believe that many more republicans will vote for this legislation if it's brought up for consideration here in the senate. the bill consists entirely of tax cuts. it should not be difficult to get senators to vote for tax cuts, right before christmas especially. most of these tax cuts have solid bipartisan support. many of these tax cuts will help the economy, will help the middle class. for example, the
while i hope that the negotiations to avert the fiscal cliff are successful, in my view we should not wait for a grand bargain in order to finish work on this important tax extender legislation. tax extenders are different from the other fiscal cliff issues for three basic reasons, and let me describe those reasons. first tax extenders are much less contentious than the other end of year problems that we -- that need to be resolved. the tax extender bill on the senate calendar has strong...
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there is that fiscal cliff worry out there, it's a real concern. there are the tax implications here and the profit-taking that's under way right now and i don't know that we're done with that and just in general a macro economic environment and so much of the apple story is still consumer products and there's pressure in those areas, comes right back to gross margins and what can the business model support right now. those are a lot of reasons why they're neutral. >> when do you get more positive given your latest checks are fairly favorable in terms of products, retail channels, it's clear that they have a pretty big moat when it comes to tablets. at what level do you get more positive? >> i think you're tempted technically and earnings power perspective as well as the dividend gets above 2% and i think that's attractive for many people. you're right, the holiday checks we've done, black friday and the commencement of the weekend through cyber monday all checked out favorably for apple. i think they're still the hottest going brand in town and th
there is that fiscal cliff worry out there, it's a real concern. there are the tax implications here and the profit-taking that's under way right now and i don't know that we're done with that and just in general a macro economic environment and so much of the apple story is still consumer products and there's pressure in those areas, comes right back to gross margins and what can the business model support right now. those are a lot of reasons why they're neutral. >> when do you get more...
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host: we have been focusing on different parts of the fiscal cliff discussion. today we're looking at tax extenders for businesses and individuals. joining us is sam goldfarb, a tax writer for cq roll call. what our tax extenders? guest: they are temporary tax breaks. some people are concerned the entire tax code is turning into a big tax extender. they are considered to be a small provision and targeted at specific types of businesses. host: why are they temporary? guest: a lot of people say they should be made permanent or they should be eliminated altogether. it is easier to pass when they are temporary. they keep on being extended and extended. host: we will look at some of these. these are some of the tax extenders and the cost of continuing the tax breaks through 2013. host: some of those are really specific. guest: that is the idea. they have become a case study in what some people think is wrong with the tax code. if there are loopholes that can be claimed to love god and their because of a lobbyist lobbied hard to get there, it is these tax breaks that
host: we have been focusing on different parts of the fiscal cliff discussion. today we're looking at tax extenders for businesses and individuals. joining us is sam goldfarb, a tax writer for cq roll call. what our tax extenders? guest: they are temporary tax breaks. some people are concerned the entire tax code is turning into a big tax extender. they are considered to be a small provision and targeted at specific types of businesses. host: why are they temporary? guest: a lot of people say...
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michael, on your deadline fiscal cliff we know when it happens january 1. the president's got his plan, the republicans have sort of a plan. the center for american progress came out with its own this week, why? you don't think the others are good enough? >> well, what we saw as a real need was a plan for comprehensive tax reform. not just nibbling around the edges but really trying to do something big and bold that would not only raise the revenue that we need and we do absolutely need to raise revenue but fix the problems in the tax code and we don't think that that's something that's going to happen in the next three weeks. we do think that that's something that's going to happen or could happen over the next year. and the parameters for that might be agreed upon in the next few weeks. we really wanted to put that out there and say listen, here are some really good ideas on how to really fundamentally reshape -- >> bill: first two or three points, what are you proposing in terms of raising the tax rates for the wealthiest go up? what else? >> the basic p
michael, on your deadline fiscal cliff we know when it happens january 1. the president's got his plan, the republicans have sort of a plan. the center for american progress came out with its own this week, why? you don't think the others are good enough? >> well, what we saw as a real need was a plan for comprehensive tax reform. not just nibbling around the edges but really trying to do something big and bold that would not only raise the revenue that we need and we do absolutely need...
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do on whether or not people heard about the fiscal cliff. have you heard of it? comparing it to some of the other times people asked about news event, there's the trayvon martin shooting in the street, occupy wall street, 82%, facebook ipo 7 %, 70% of the republic has heard it compared to the fiscal crisis in greece, 63% had heard it. in that number 36% had read a lot about it or heard a lot about it. do they believe a solution is likely? our numbers different from other poles. americans are more optic. first of all see what they think, unlikely 73% back in november when we asked about the debt program would there be an agreement, 73% saying that, now 44%. the number you want to think is 4% to 44% thinks a solution is likely. who thinks it's likely, that's interesting and driving this number. he can break it down by party. look at what we find, republicans 52-42, independents, i come back here, there we go, independents 47-32 and it's really what you see here 60% of democrats think it's unlikely. i just want to show you again when we get to
do on whether or not people heard about the fiscal cliff. have you heard of it? comparing it to some of the other times people asked about news event, there's the trayvon martin shooting in the street, occupy wall street, 82%, facebook ipo 7 %, 70% of the republic has heard it compared to the fiscal crisis in greece, 63% had heard it. in that number 36% had read a lot about it or heard a lot about it. do they believe a solution is likely? our numbers different from other poles. americans are...
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the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will be hurt t
the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for...
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that fiscal cliff at year's end. president obama and house speaker john boehner spoke about it on the phone with one another. that discussion came as treasury secretary tim geithner confirmed mr. obama is prepared to take the economy over the cliff unless republicans agree to raise tax rates on the wealthy. >>> meantime in georgia, some activists expressed frustration about the stalemate in holiday spirit. they delivered symbolic lumps of coal to the offices of both of their state's u.s. senators. but security guards met them outside of republican saxby chambliss' office. eventually, a few were let inside, but without the camera and media present. of course. that would have been the real story. >> folks are upset now. see what happens january 1 after you get the first paycheck and go, oh, this is what the fiscal cliff meant. yeah. whoo, 2013. >>> all right. the next story involves a new grassroots campaign that is starting. meant to draw attention to the nation's debt crisis. it is our "favorite story of the day." th
that fiscal cliff at year's end. president obama and house speaker john boehner spoke about it on the phone with one another. that discussion came as treasury secretary tim geithner confirmed mr. obama is prepared to take the economy over the cliff unless republicans agree to raise tax rates on the wealthy. >>> meantime in georgia, some activists expressed frustration about the stalemate in holiday spirit. they delivered symbolic lumps of coal to the offices of both of their state's...
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earlier the president told the business round table a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. in an interview on cnbc, timothy geithner says the gop is making a little bit of progress, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> i want to understand the administration's position when it comes to raising taxes on the wealthy, those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> with both sides in washington publicly digging in their heels, how much will the fiscal cliff impact the credit markets? ben garber joins us for more. ben, good morning. clearly we're focused on the down side risk from the budget standoff and then there's beyond that. let's talk about the short term at the moment. what impact is tha
earlier the president told the business round table a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. in an interview on cnbc, timothy geithner says the gop is making a little bit of progress, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> i want to understand the administration's position when it comes to raising taxes on the wealthy, those making more...
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what do you think should be hopping here to get a deal to avoid the fiscal cliff happening? >> i have no doubt that people are working hard to get a deal. we have the president re-elected and have a new congress, think it's right they get down to the business of sorting this out. i think america's got to think that what it needs to do is get growth in its economy, as well. and it needs to get growth by trade and exporting. and i think what we're missing at the moment is a global agreement whereby the big powers try to work on the economy. you have to have fiscal problems and you also have to have growth. that's the key for the future. there's a global deal waiting to be done, with china, europe, india also involved in this, and of course, america itself, where we could build the confidence that's necessary to get high levels of growth around the world. >> finally, gordon brown, i couldn't let you go without asking your view of the single biggest news story to hit the planet in the last week. it is, of course, the royal baby. >> it's incredibly important that we give them the
what do you think should be hopping here to get a deal to avoid the fiscal cliff happening? >> i have no doubt that people are working hard to get a deal. we have the president re-elected and have a new congress, think it's right they get down to the business of sorting this out. i think america's got to think that what it needs to do is get growth in its economy, as well. and it needs to get growth by trade and exporting. and i think what we're missing at the moment is a global agreement...
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owners today to talk about the fiscal cliff, raising tax rates on the richest americans for them is still off the table. >> the revenues on the table are coming from, guess who? the rich. there are ways to limit deductions, close loopholes, and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. a plan that can pass both chambers of congress. >> joining me now is former vermont governor howard dean and msnbc's krystal ball. governor dean, our treasury secretary is a very carwful speaker. when asked if they're prepared to go off the cliff, his first word was absolutely. there was nothing, nothing could be more clear that this administration means what they say about getting what they want at this point. >> yeah. the only problem is -- this is a little initially going to team like heresy, the truth is everybody needs to pay more taxes, not just the rich. that's a good start. w
owners today to talk about the fiscal cliff, raising tax rates on the richest americans for them is still off the table. >> the revenues on the table are coming from, guess who? the rich. there are ways to limit deductions, close loopholes, and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one...